Govt to discuss revised Sri Lanka tax treaty

New Delhi: The government is likely to discuss and approve on Thursday the revised tax information sharing treaty between India and Sri Lanka, in its aggressive bid to hunt black money stashed abroad.

"The India-Sri Lanka Double Taxation Avoidance Agreement (DTAA) is listed for tommorow (Thursday). The approval is for revising the terms of existing DTAA," a source said.

In 2005, India had signed tax information exchange treaties with other the South Asian Association for Regional Cooperation (SAARC) nations, including Sri Lanka.

Other members of the SAARC bloc include Bangladesh, Maldives, Bhutan, Nepal, India, Afghanistan, and Pakistan.

India has signed Double Tax Avoidance Agreements (DTAA) with 82 countries and is in the process of modifying the agreements in line with the international norms.

Among the major nations, India has already amended DTTA with Switzerland, Australia and Singapore. The talks for amending the pact are on with Mauritius.